Uber launches regulation-compliant payment system in India

Monday 17 November 2014 11:59 CET | News

Uber has introduced a wallet-style payment system in India after recent regulations require all online transactions to pass through domestic payment systems.

The new payment method allows customers to pay with their debit card or net banking account, in addition to a credit card as before. Cash payments are still not supported. Customers charge a pre-paid wallet, which is then used to pay for Uber rides. Payments are thus deducted from the wallet, rather than directly from a debit or credit card.

The new system is powered by India-based payment platform Paytm and is effective in the country, although international credit cards can still be used.

The change should now allow Uber to operate in India in accordance with local legislation and rules.

In September 2014, Uber was reportedly in talks with companies providing digital wallets and payment gateways in India as it looks to become compliant with local regulations.

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Keywords: Uber, payment system, India, regulation, online banking, cash transactions, online payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce